Workplace Services Market worth 120.68 Billion USD by 2022

The report "Workplace Services Market by End-User Outsourcing Services (Managed Communication and Collaboration Services, Managed Mobility Services, Managed IT Asset Services), Tech Support Services, Organization Size, Vertical, and Region - Global Forecast to 2022", Workplace services covers the managed services adopted for workplace. The workplace services market size is expected to grow from USD 71.53 Billion in 2017 to USD 120.68 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period. The demand for workplace services is driven by the commoditization of workplace services, measurable business value offered by workplace services, transferring the burden of compliance to workplace services providers, and the enhanced ability to focus on core business competencies for the organizations. The workplace services market is expected to gain a major traction during the forecast period.

The managed IT asset services segment is expected to contribute the largest market share during the forecast period.

The managed IT asset services segment is expected to hold the largest market share during the forecast period. IT asset management manages the complete hardware and software life cycle. In an era of the convergence of business, IT, and cloud, maintaining a resourceful IT environment is critical for system administrators. It is important for organizations to outsource the IT asset management services prudently to achieve IT operational efficiency, long-term asset management, and auditing, compliance, and financial accountability. The scope of the managed IT asset services includes managed print services, managed desktop services, and managed backup and disaster recovery services.

Healthcare and life sciences vertical is expected to grow at the highest CAGR during the forecast period

The healthcare and life sciences vertical is projected to grow at the highest CAGR during the forecast period. Technology has introduced significant changes to the healthcare and life sciences workplace. As new IT models provide a platform for innovating new healthcare business models, connection, communication, and collaboration play important roles in enhancing treatment outcomes. Players in the healthcare and life sciences vertical are outsourcing workplace services, so that they can focus more on their core business and most important assets, the people.

North America is expected to contribute the largest market share, whereas Asia Pacific to grow at the highest CAGR during the forecast period.

North America is expected to hold the largest market share and dominate the global workplace services market from 2017 to 2022. The region has been adopting the latest technological advancements, such as managed UCC, managed IT asset services, managed desktop services, and tech support services. The major growth drivers in this region are rapid change in working conditions and high network bandwidth. In North America, many companies have adopted flexible working conditions wherein their employees and customers can access business applications and corporate data anytime, from anywhere, using any device, instead of being in office for fixed work timings. The Asia-Pacific region is in the initial growth phase; however, it is the fastest-growing region in the global workplace services. About 40% of the world’s global workforce resides in China, and India has a very large pool of skilled workforce. In Australia, due to the diversified nature of businesses, 1 out of every 5 offices is spread across the globe, which creates a huge demand for workplace services in this region.

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